Speaker 1: In this particular, we are going to discover the complexity of medical tourism. You need to understand that medical tourism is a very complex industry. And you are going into a business which requires careful planning, careful communication, high quality treatment and services, great post-operative and pre-operative care arrangements, and also you have to be ethical, legal. Also you have to be culturally sensitive to the patient. If the patient is coming from Africa, this is what you miss. If the patient is coming from Africa or Middle East, you have to be culturally sensitive for them, right? So medical tourism is a very complex industry. Hence, we have to create a product. What we have to do? We have to create a product that satisfies all this complexity. We have to make it easy for the patient. Let me just get you on this thing. Let's put it here, right? You need medical attention. There is something either it's not available in the country, either it is costly, it is not accessible, it is not available, or some factors are there. Then you look for the option outside in home country and outside abroad, right? Right. Then once you look for services abroad, you look for the healthcare provider, understand the cost, quality, related issues, understand issues which are pre-operative, post-operative, and what if something unexpected will happen, who is going to handle it? Once you find a destination, you know that there is a travel plan, tourism plan, concierge services, here, legal document, medical record, exchange and all. The list is actually very big. This signifies two things. This particular slide signifies two things. Can you tell me what two things I am trying to say through this one? And it's very important, by the way. Very important. Let me put it in another way. Businesses provide solutions, right? And for solution, what needs to be there? A problem needs to be there. You can't provide a solution if there is, if there is no problem. So if you want to start your business, if you want to start your business, your services are solution. Simple. And solution could only come when there is a problem. What are these things? Problems. These are? Problems. And now he is a businessman. So how he looks at it? Opportunities. Opportunities. This is the most beautiful fundament of any business. No matter whether you are in medical tourism, or health care, or any, the moment you say business, what you look into is not the services. You look into it, the problems. Problems which people are facing, and then you have to provide them solutions, and that's why you come, earn money, earn reputation, earn this thing. These are touch points for the festival. This is what you are going to do. A patient needs travel arrangement, visa arrangement, medical arrangement, money exchange and everything. These are his problems. The more wonderful solution you create, more wonderful business you create for yourself. You are not in a business of just sending, taking a patient and putting him to the hospital. That is not the business. Business is all about this. Right? So as a start-up, someone asks me, what are the steps of the start-up? These are the steps. If a patient comes to you, and he asks you that what is the quote of the knee replacement, how much you charge it, how you reply them now? You reply them that it costs you $10,000, but we do take care of what? A, B, C, D, E. Unless you put all these options, I am taking mark here in the start-up, because unless, as a start-up, if you do not understand this thing, if you do not understand problem, you are not going to provide the solution. And if you are not providing the solution, you are not going to be in business. Keep in mind, no business can ever run without providing solution in which a patient or a trader understand and think that he is also winner. So you are a winner by taking the money, but a patient should also feel that he won the deal by getting what he wanted and paying less amount of the money. If I have to ask you the value of this thing, how much you would say that, what you would say about this value of this? Depends on my need, when my need is greatest. There is difference between value and cost. Do you know the difference? There is a difference between value and cost. This particular device cost me 10,000 rupees. But is that is the value of this device? No. Value equal to benefits minus cost. So we are talking about benefit minus cost. Again, no matter what business you are in, unless you provide the benefit to the consumer, you cannot provide the solution or profit. But what is the cost to the consumer? Is it only that the money he is paying? If this product is available next door to me, my cost is same. But if I have to go for this one to Pune and buy it, is it still same cost to me? No. No, right? And this product took me 5 to 7 days to search where is this product, from where I can get it, how to get it, reach it. Does it still cost the same price? So what is cost? Cost is not just price. That's a very big mistake they do it. Cost is price plus time plus energy you invest The more time you take to make any decision, the more costliest it becomes. If you want to buy this shirt in the market and this shirt is 1000 rupees, however, you need to constantly think whether I want the double cuff shirt or I want the pure white color or grayish white color. The more time spent on this shirt, the more costlier it becomes for you. You don't realize that. So value is defined by value. Defined by the benefit minus cost. The more benefit you offer and easier you make for the patient to take a decision, the more valuable you are making your business. Agree with me? Are we on the same page? So medical tourism start up with this thing. What is your product? If you are a medical tourism company, what is your product?

Speaker 2: Everything which is on this slide,

Speaker 1: on this slide you need to add this. Everything. Because all these are problems he doesn't know. Hospital cannot do all of these things. Even if they have international patient department, they can't do all of these things. Right? They really can't do. So when you start your business as a startup, when you start your business and when you create a product, make sure that you put all these elements into it and this is where you have to start it. As a startup you have to start focusing on how I am going to understand the issues, how I am going to provide the quality, how I am going to do the product arrangement. These are the startups like for you. Medical tourism is never an easy decision for any patient. But you have to, your job is to make it easier for them. Your job is to facilitate. Your job is to make it simple and easy for them. So if you put up a website, make sure you have visa services, personalised services, plan holiday which you said, Indian holiday plan, quotations and estimations, medical documentation transfer, interpreter services, variety of medical treatment and facilities and services which you are going to offer. Now, now let me come because most of you want to start a facilitation business. So this is very important portion of my presentation. A facilitation business a role of facilitator and this is where we are going to answer most of your questions also. Except the hospital, however, your challenge is that you don't get good facilitators. So when you try to identify facilitator, these are the things you have to identify. These are the things they should have a facilitator in them. So let's go one by one. Facilitation. Okay. A facilitator should be a one stop solution. Do you agree? Do you agree with me that a facilitator should provide one stop solution to all the patient's problems? Which problems? Which we discuss in previous slide. All one stop solutions to all the problems. Second, a facilitator is a relationship manager. What do I mean by that is, she has a hospital, you have a patient, so in between, in between hospital and patient, there has to be someone who is going to take the relationship. You ask the question or someone ask the question, what is the cost of the treatment a doctor is saying very high after the patient arrival. First if you are doing proper pre-operative investigation, you are reducing the chances of complications. Most of the time, deal with the hospital which covers the basic complications, like a turkey. What turkey does that? Hair transplant, this is the price. This thing, this is the price. Knee replacement, this is the price. Right? Particularly this surgery, even simple appendicitis, this is the price. We will take care of the complications as long as you provide the pre-operative investigation and they will take care of the complications. So a facilitator is a relationship manager between the hospital and patient ensuring the patient will not go into complication, number one, and even if it goes into complication, basic complication, hospital should add it, number two. Number three, make sure you do the proper pre-operative investigation. So it reduces the burden on the patient. When you are developing your product, you get the consent form from patient, that my job is to facilitate you and provide you the services to help you get the treatment. However, we are not medical service provider. We are providing medical services from the choice of your hospital. And that's why when I said it, give him options. Give patient some options, so let him choose, so that you are safe. You are safe that you are giving him the options to choose, let the patient choose the options, even if he has some priority of hospital, which he thinks are the best, give them options. This is where the legally protected you are. Anyway, that's the job of the relationship manager. A facilitator knows how to do everything. Everything. Arranging from the transport, arranging from the visa, arranging from the this. A facilitator should know everything about hospital where he is referring. What if the hospital has a criminal record, or if the hospital wants having certain, or particular doctor had a criminal record, or doctor is not even licensed enough, and you are still referring to that doctor. If the doctor was suspended by IDA, Indian Dental Association, but doctor is still practicing without the license. Hospitals are getting tired of, because everyone is saying I am big facilitator. You face this problem. And only if you have 5-10 patients which you have given to the hospital, then you can tell them, okay, now let's sign the MOU. Right? If you are established player and all. But for a new player, it is very difficult to get MOU signed from the big organization. I understand that your hospital is signing. But you will be also getting hundreds of requests and taking 2 and 3 only. So, startup will have a hard time to come to you. Right? So, you have to find a way out here. You have to commit. You have to make your nice profile. Make sure the first few patients are non-profitable patient for you. You invest money into getting few patients. First few patients. You develop your case study. You do nice video recording. You do nice case study. And then you approach to the hospital that I want a proper MOU signed. You can also send an email to them in advance MOU. As long as you have patient, I think so hospital are accepting it. Right? So, if a facilitator is involved in between, a facilitator can negotiate with the hospital or at least arrange a second opinion for the patient. Please make a serious decision. Make a serious note. Serious note in your business. If you are providing medical treatment and facilitation services, only collect money for the facilitation services. Never ever take money for the medical treatment. Let the hospital collect the medical treatment. If you are collecting money for the medical treatment, then what happens? You are liable for all the outcome of the medical services. Neglected, non-neglected, whatever problems happen in the hospital, you are liable. So, one thing you be very clear that do not collect medical fees from the patient. You have rights to collect the transport, travel, concierge, pick up, arrangement. And remember, whatever collection you are doing, be responsible for those services. Don't say that I collected money and then someone will go and pick up the patient. You be responsible for that. If you have got the consent signed, that complicate. Hospitals will definitely ask you to sign the consent. It's the facilitator which does the mistake of not collecting the consent form from the patient. That's where the facilitator is problem. If you get the consent form signed by the patient which says that I am just facilitating you, as well as to hospital. When you sign a MOU to hospital, make sure you write that we will be facilitating patient to you. However, we are not responsible for the hospital. End results or anything. So it's a both way side. Hospital will also say that we are not responsible for end result. However, someone asked me what if the patient died? Or what if the complication came? You ask me. All you have to do is to call the consulate or embassy of that patient. Not Indian embassy. You have to call the embassy. So Nigerian embassy in India, you have to communicate with them. And by the way, it is not easy to communicate with those embassies. So be ready to send one of your representatives in case something goes wrong. So you can send one representative travel agent and say that this patient came here, the complication was ready to have and the cost was ready to have.

Speaker 2: Sir, for start-ups, is it required to set up a legal department or something like that?

Speaker 1: You do need to have a legal entity as per the government of India. It could be a partnership firm, could be a limited liability firm, whatever firm. But you can't take the patient and you can't take any money for facilitation. You can't take it on your name.

Speaker 2: Just for a start-up?

Speaker 1: Even for a start-up.